We had a question as to the meaning of absorb.
From the tool tip text "You are enveloped in a protective shield that absorbs all incoming damage for 3 seconds and grants immunity to all control impairing effects."
I think this means that your monk is invulnerable to damage for those 3 seconds, but would only heal from life steal/life on hit/life regen/mantra of healing/health globes/potions/etc, and you wouldn't heal from the damage you take.
My friend thinks that the word "absorb" means that if you take x damage, you'd heal by x.
I think the alternate tool-tip "Become immune to all attacks and control effects for 3 seconds" implies no healing occurs from taking damage while under the effects of serenity.
That said, in Diablo 2, fire absorb would heal damage, so a heal from an "absorb" keyword isn't unprecedented:
Any definitive answer on how this works? Is it just immunity or heal for the damage you take?